NASDAQ CEO jure hostile bid for NYSE in "weeks"

CHICAGO - Nasdaq OMX Group Executive Director Robert Greifeld, unbowed after NYSE Euronext twice its purchase offer was rejected, is pressing forward with an offer to purchase hostile to Big Board parent, promising to offer to purchase in the weeks.

Greifeld Tuesday, said that the offer is "probably still a few weeks."

Earlier this month, Nasdaq and ice said they planned to take their bid directly to shareholders in a public offer to purchase.

NYSE shareholders are scheduled to vote on the agreement of Deutsche Boerse July 7 under a chronology which said NYSE is designed to conform to the German law on mergers and acquisitions.

But suggested Greifeld is zero hand close to give up. "We are here for the end of game," he said.

Board of Directors of the NYSE has refused to meet with Nasdaq and IntercontinentalExchange Incto discuss their offer, paste instead with an agreement for a friendly merger with Deutsche Boerse AG.

NYSE Chief Executive Officer Duncan Niederauer reiterated its commitment to the transatlantic agreement Tuesday by saying: "the sky is the limit" of the value of the agreement creates for the shareholders of NYSE.

Companies entirely will deliver promised savings and additions of revenues, he said, and spoke companies with regulatory agencies have kept on track for completion of the end of the year.

But NYSE has a duty to speak on the Nasdaq and ice, which deal with NYSE values to $ 1.3 billion more than Deutsche Boerse, Greifeld said in the slides presented at a UBS financial services Conference in New York on Tuesday.

Greifeld and ice CEO Jeffrey Sprecher, who first proposed to buy NYSE on 1 April, called on several occasions shareholders NYSE request NYSE at least have with them, most recently a letter suggested Monday shareholders NYSE are being "swept" into a lower deal.

The competing offer would be split NYSE Euronext in two, with Nasdaq NYSE equities and acquisition business options equities of 4.9 billion of dollars in stock and cash and ice acquire his unit of futures based at London Liffe, 6.3 billion in stock and cash, in accordance with a deposit of ice/Nasdaq.

Liffe is "full and fair", but the mix of stock and cash may be adjusted if NYSE Euronext engages in negotiations, ICE Sprecher said at UBS Conference.

NASDAQ is working "rapidly" clear antitrust hurdles with the U.S. Department of Justice, Greifeld said on Tuesday. The combination of NYSE and Nasdaq would create a monopoly in the Affairs of stock-list American, and the Department of justice would probably ask for some "adjustments", Greifeld said.

These concessions would not change the business plan basis for the merger, he a said, adding that it expected increased surveillance of U.S. Securities and Exchange Commission and the competition from smaller managed if the combination should be approved.

NASDAQ and ICE offer includes a payment of 350 million dollars to shareholders should antitrust authorities block the deal.

Agreement of the NYSE with Deutsche Boerse has no such fee, even if it is confronted with an intensive review of European regulators over what would be a near-monopoly in the future trading from London to Frankfurt.

The work of Deutsche Boerse Council refused to support the proposed merger.